662 NW Melinda and 150 NW Hermosa are two great properties close to the city. Enjoy a private estate overlooking the city at Melinda or a mid-century with the most incredible gardens at Hermosa.
For the conservation-minded, environmentalism starts at home. Eco-friendly homes offer so much more than environmentally conscious construction, they can also be innovative, elegant, and ultra-luxurious, combining sustainable living with cutting-edge design.
Currently the market is in a “rebalancing” position. Think of it as a “market cooling.” Even though the economic fundamentals are strong – there is tight credit, greater down payment and no speculation in the market place. This is very different than the 2007 downturn which shared none of these fundamentals. If a home is priced correctly it will sell.
Million-dollar homes are still rare in metro Portland, but their share of the market has more than tripled in five years, according to the real estate website Trulia.
About 1 in 40 homes hit that threshold in the Portland area in 2018, Trulia said, up from 1 in 125 in 2013.
And while nearly all major metros are seeing an increase in million-dollar homes as prices rise across the nation, the shift has been more dramatic in Portland.
In 2013, Portland ranked 42 out of the 100 largest metros in its share of homes valued over $1 million. In 2018, it had climbed to No. 28.
Home prices in the Portland area have climbed 47 percent since 2013, according to the S&P CoreLogic Case-Shiller index. The median home price topped $400,000 for the first time this year, according to the Regional Multiple Listing Service.
In the Bay Area, million-dollar homes have become the norm. The median San Francisco home value is $1.3 million, according to Trulia, and 81 percent of homes cost more than $1 million.
About 13 percent of Seattle-area homes are priced over $1 million. The median home price there is $565,000.
— Elliot Njus